Fibre optic to get to Malaga

A Malaga project is expected to create several hundred jobs, which includes the launching of fibre optic cables, from which will pass 60 per cent of private homes, by end of this year.

The operator Jazztel announced last week that it is investing 31 million euros this year in expanding the fibre optic network in Spain through an accord with Telefónica, which will see it becoming available to three million homes nationwide.

The technology allows for high speed data transfer, providing very fast connection to the internet.

Jazztel’s José Miguel García told a press conference in Málaga last week that the roll out would begin in the city and is expected to be successful “given its technological profile”.

He explained that “Málaga is the second city after Barcelona where we are launching this and it will become one of the European cities with the highest percentage of households which have access to fibre optic connections”.

Jazztel, which will share the network with Telefónica, also plans to expand the network this year in Madrid, Sevilla and Valencia.

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Yoigo plans to launch the first commercial 4G network

Xfera Moviles, which operates under the Yoigo banner and is Spain’s smallest cellco by subscribers, is looking to one-up its rivals by becoming the first operator in the country to launch commercial 4G services.

According to the comments made by the operator’s CEO Eduardo Taulet, Yoigo aims to inaugurate its 4G network by mid-2013, with Madrid the first city to come online on 18 July and confirmed that for customers already on a 3G tariff there will be no extra charge for 4G connectivity.

However, the cellco is aiming to extend its 4G network footprint to 75% of the population by the end of 2014 and it is understood that it will spend approximately € 200 million, over the next two years on developing the infrastructure.

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Gibraltar plan for luxury yacht hotel

Residents have slammed the scheme of a huge floating hotel planned for Ocean Village, that would see a £150 million luxury yacht berthed in the marina.

They say the 142-metre Sunborn Yacht Hotel has bypassed Gibraltar’s planning process and could be dangerous for locals including, which other critics claim that the increased traffic could be dangerous for local school children.

Tradewinds’ resident Mr William Leay said: “It will have a huge detrimental visual impact on the whole area”.

The custom designed Sunborn has seven decks with 166 cabins and 17 suites.

It boasts a ballroom, restaurant, sun terraces, pool and bar, as well as banqueting and conference facilities and a gym and spa.
The Environment Minister Dr John Cortes said: “The environmental impact is much smaller than building from scratch”.

He added that the land reclamation needed for a car park would not prove ecologically damaging as the marina was already quite contaminated.

The vessel’s sewage output and water supply will be connected to the city’s main infrastructure.

Minister for Tourism Neil Costa added: “The Sunborn’s arrival will be a significant addition to Gibraltar, targeting the growing demand of a luxury hotel. We believe it will become an icon and major attraction”.

Ocean Village marketing director Brian Stevendale also welcomed the scheme saying: “We are very excited and admit this is a massive investment. Clearly a 5-star hotel and conference center is a welcome development recognising the success of Gibraltar”.

The hotel is expected to create about 150 jobs and is due to open towards the end of 2013.

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Lloyds to sell Spanish retail businesses to Sabadell

Sabadell will become the owner of Lloyds’ private and retail banking business in Spain, including 28 offices, 1.8 billion euros of loans and 760 million euros of client deposits.

Lloyds will get up to €20 million cash over five years plus a 1.8 per cent stake in Sabadell worth about €84 million.

The deal includes Lloyd’s retail and private banking business and its investment management business in Spain.

But the British group’s corporate banking operations, which serve business clients, are not included. They will carry on operating as normal.

Lloyds is still 39 per cent owned by the British government, after a state bailout after the 2008 global financial crisis.

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Council of Europe consider higher credit costs for businesses in southern Europe “unacceptable”

Herman van Rompuy, president of the Council of Europe, say that companies in southern Europe are having to pay far more than those in the north to get finance and this is “unacceptable”.

He has called for the Central European Bank (BCE) to “take more committed action” to stop this discrimination and make it easier for small and medium-sized companies (SMCs) to obtain credit in accordance with the Spanish government’s request.

Van Rompuy also stated in a conference in Estoril (Portugal), which was broadcast internally at the EU offices in Brussels: “Restrictive credit conditions mean recovery is a huge upheaval which affects smaller firms to a much greater degree, it is much more expensive today for a company in Portugal, Spain or Italy to take out a loan than for a very similar firm in Austria or Belgium and this is unacceptable and it is clear that something has to be done”.

He called for the BCE to work with heads of State and other EU organizations in order to reach “more decided and intelligent” solutions, stressing the importance of this teamwork since “the BCE cannot and should not have to bear the burden of resolving all Europe’s problems by itself”.

Commenting that a balance should be struck and a gradual approach taken when attempting to reduce State deficits, the Council of Europe president said: “After three years of sacrifices, understandably, people’s patience in southern European countries is running out and they are getting weary of constant reforms. Governments need to focus on structural measures to bring about long-lasting improvements to the economy and urgently need to take more steps to revive growth and fight against unemployment. We will revisit this issue at the Council of Europe in June, during which I shall propose additional measures for immediate action in terms of growth and employment, aimed particularly at young people”.

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La Caixa to Sell off 12,000 Properties

The Spanish bank La Caixa has put up for sale a package of 12,000 properties held by its Servihabitat company.

Morgan & Stanley have been appointed to sell Servihabitat Gestión Inmobiliaria S.L., the company that manages the sale of the properties.

The 1,500 million euros “value” of the 12,000 Spanish properties is 51% of the total, which is the percentage of the company that is actually for sale.

La Caixa plans to remain in the company.

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New detector skin cancer app available for mobile phone

The new phone app Skin Prevention is designed to give people early warnings signals of any potentially dangerous skin cancer growths.

Users can take a photo of any suspicious moles or marks they have on and with the €5.99  app, which monitors any changes in the skin by overlaying different images of the same area taken over time. The device highlights any developments that a doctor should be informed about.

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IKEA invests in solar panels

The Malaga, Swedish furniture retailer IKEA, their sixth such plant in Spain, has invested €4.6 million in installing solar panels at its store, which are on the roof of the store and the shelters in the outdoor car park and will produce 2,821 MWh per year, which is 64 per cent of the amount the store used in 2012.

In 2007, IKEA launched a project to improve the energy efficiency of its stores and produce more renewable energy.

It has since spent €7.7 million and reduced electric bills by €1.8 million per year.

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Spain’s fast food chains sales reach €2.7bn

According to a market survey by DBK consultants, in 2012 Spain’s fast food market, registered  3.1 per cent growth through the hamburger chain.

The sector reported €2,730 million turnover last year, although the 1.3 per cent increase on 2011 was lower than in preceding years owing to falling demand.  Despite deceleration, fast food remains the liveliest area in the restaurant industry.

Insiders believe that combined with the largest chains marketing strategies, fast food establishments and takeaways can only go on growing over the next two years. Many new outlets opened last year and more are planned for 2013 and 2014.

Over-the-counter turnover amounted to €2,430 million last year, 89 per cent of fast food sales and a 2.3 per cent increase on 2012. Turnover in takeaways, which have declined steadily since 2009, fell to €300 million.

Hamburger sales in a national total of 1,065 outlets were the most promising with a turnover of €1,430 million.

In contrast pizzerias lost ground for the fifth consecutive year and continue to close with their turnover falling by 3 per cent to €495 million.

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